Hibbett Sports Boosts FY20 Adj. EPS Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Friday, athletic-inspired fashion retailer Hibbett Sports Inc. (HIBB) reported that comparable store sales for the second quarter edged up 0.3 percent. The company also raised its adjusted earnings guidance for the full-year 2020.

For fiscal 2020, the company now projects adjusted earnings in a range of $2.15 to $2.25 per share, up from the prior forecast range of $2.00 to $2.15 per share.

Comparable store sales are expected to now grow between 1.0 and 2.0 percent, down from the previously projected growth range of 0.5 to 2.0 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.10 per share for fiscal year 2020. Analysts' estimates typically exclude special items.

The company also reiterated that it is proceeding with the closing of approximately 95 Hibbett stores in fiscal 2020, which is expected to result in non-recurring impairment and store closure charges in the range of $0.10 to $0.15 per share in fiscal 2020.